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Adipic Acid Market Dynamic Growth 2019: Top players Asahi Kasei Corporation, Ascend Performance Materials Inc., BASF SE, Invista, Lanxess Ag, PetroChina Liaoyang Petrochemical, Radici Group, Rhodia, Shandong Haili Chemical Industry Company Ltd., and Shand

08-12-2019 12:33 PM CET | Business, Economy, Finances, Banking & Insurance

Press release from: Coherent Market Insights

Adipic Acid

Adipic Acid

The Adipic Acid research report covers the current scenario and the growth prospects of the global Adipic Acid industry forecast 2018-2026. The report enlists several important factors, starting from the basics principal to advanced market intelligence which play a vital part in strategizing. Adipic Acid manufacturers and is a important source of guidance and direction for companies and individuals interested in the Adipic Acid industry.

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Major players in the global Adipic Acid market include Asahi Kasei Corporation, Ascend Performance Materials Inc., BASF SE, Invista, Lanxess Ag, PetroChina Liaoyang Petrochemical, Radici Group, Rhodia, Shandong Haili Chemical Industry Company Ltd., and Shandong Hongye Chemical Company, Ltd., Rennovia Inc.

The research presents a complete assessment of the market and contains Future trend, Current Growth Factors, attentive opinions, facts, historical data, and statistically supported and industry validated market data. The market report proposes complete synopsis of the market, covering several characteristics such as product definition, market breakdown based on several constraints, supply chain analysis, and the fundamental Key Players outlook.

The production of bio based and synthetic-based adipic acid follows a two-step process. The first step involves production of cyclohexane or cyclohexanone, commonly known as ketone alcohol oil, while the second step is the conversion of ketone alcohol oil into adipic acid using nitrogen acid reactions. This reaction leads to production of a large amount of nitrous oxide (N2O) and NOX.

Key end-use industries in the global adipic acid market, such as textile and automotive, have gained significant traction in the recent past, and the trend is expected to continue in the near future, in turn augmenting growth of the market. According to the stats provided by Coherent Market Insights, the automotive industry was dominating the market for adipic acid in 2016 and the trend is expected to continue in the following years. Adipic acid is mainly used in the production of nylon 6,6, which finds wide application across various industries ranging from automotive to textile. This is mainly attributed its high durability, lightweight, high elasticity and tensile strength. The clothing industry has witnessed rapid growth in the recent past, especially in emerging economies of India and China, due to increasing discretionary income.

Nylon 6,6 Fibers has emerged as the fastest growing application area for Adipic Acid

Nylon 6,6 fibers have been the major application segment of adipic acid in 2015. Increasing, demand for nylon 6,6 fibers in automotive industry is expected to be the key factor propelling growth of the market for adipic acid. Increasing automotive industry coupled with the growing population in emerging economies such as China, India, and Brazil is projected to augment market growth during the forecast period. For instance, according to India Brand Equity Foundation (IBEF) -- a Trust established by the Department of Commerce, Ministry of Commerce and Industry, Government of India -- by 2020, India is expected to be the world leader in 2W and 4W segments export. Also, Government of India plans to make India as an automobiles manufacturing hub by 2026, and the passenger vehicle segment is expected to reach 9.4 million units as highlighted in the Auto Mission Plan (AMP) 2016-2026.

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Coherent Market Insights
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Nylon 6,6 Fibers has emerged as the fastest growing application area for Adipic Acid

Nylon 6,6 fibers have been the major application segment of adipic acid in 2015. Increasing, demand for nylon 6,6 fibers in automotive industry is expected to be the key factor propelling growth of the market for adipic acid. Increasing automotive industry coupled with the growing population in emerging economies such as China, India, and Brazil is projected to augment market growth during the forecast period. For instance, according to India Brand Equity Foundation (IBEF) -- a Trust established by the Department of Commerce, Ministry of Commerce and Industry, Government of India -- by 2020, India is expected to be the world leader in 2W and 4W segments export. Also, Government of India plans to make India as an automobiles manufacturing hub by 2026, and the passenger vehicle segment is expected to reach 9.4 million units as highlighted in the Auto Mission Plan (AMP) 2016-2026.

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